ICSC San Diego Observations
 Now that Labor Day is behind us, we’d like to provide some observations about ICSC San Diego, which was held Sept. 3-4.Capital Pacific again had a booth and committed presence at this annual convention. Here are a few key observations: 1) On a positive note, we believe that Seller and Buyer pricing expectations are moving into alignment. A recent increase in transaction activity here at Capital Pacific supports this observation. 2) Many developers, out of necessity, are shifting their business plans to buy distressed debt and offer workout services to generate fees in a challenging market. 3) While attendance at the ICSC show was down, we were able to uncover new opportunities for collaboration and networking with prospects and professional competitors, and we saw progress on a few projects, which was encouraging. 4) New funds are emerging for the acquisition of both high-quality and distressed assets, and public financing is becoming available as cities seek to spur local development 5) There are countless buyers seeking the perfect distressed deal, but industry veterans who have experienced these market conditions before emphasize the need for prudent dealmaking and a focus on quality assets in strong markets. The next ICSC conference that Capital Pacific will attend is Chicago Deal Making, October 29-30. We’ll have a booth, and look forward to meeting with our clients in the Midwest. If you’re planning to attend, contact us to set up a meeting. |